This problem is caused because Quality Analyst needs access to the registry key:

HKEY_Classes_root\vdsp

on the local machine. Normally, all users have access to these keys, but the computer can be configured to deny access.

You (or your System Administrator) should: Log in as Administrator (or as a user with Administrator Privileges), start up QA, and enter the activation key if it asks for it. Then exit QA. Go to the Start button, pick Run, and run REGEDT32. Select the HKEY_Classes_root window, and scroll down to find the vdsp entry. Click on this vdsp entry, and select Security |Permissions. Change the permissions associated with the user (or a group they are a member of) to include read access (or, if that isn't sufficient, give them full control).